Ford acquires EV charging management platform Electriphi

Ford acquires EV charging management platform Electriphi

In a bid to accelerate its switch from conventional fossil fuel-powered vehicles to electric vehicles (EVs), American automobile giant Ford Motor Company has acquired EV charging management platform Electriphi. The acquisition of California-based Electriphi, which provides charging management and monitoring software for EVs, is expected to simplify the transition to EV fleets while saving significant time and costs for customers. The acquisition seems to be very significant as the automaker aims to electrify at least 40 per cent of its fleets by 2030.

Following the finalization of the acquisition deal, the EV charging management platform of Electriphi will be a part of Ford Pro, which is the company’s new stand-alone unit focused completely on commercial and government customers.

Ted Cannis, chief executive officer of Ford Pro, said, “By adding Electriphi's existing advanced technology to the Ford Pro electric vehicles and services offering, we can enhance the commercial customer experience and become a single-source solution for fleet depot charging challenges.”

Cannis added that commercial customers are increasingly adding EVs to their fleets, which is resulting in increased demand for depot charging options as commercial customers want their vehicles powered up in time and go to work every day.

He further added that the acquisition of Electriphi marked the last component to fulfill Ford Pro’s strategy to set up an imposing leadership position in the software space and create an unending relationship with commercial customers by providing them with the service they need.

With the transition from conventional vehicle space to electrification of the commercial vehicle segment, Ford Pro aspires to capture more than $1 billion in revenue from charging by 2030.

Electriphi's platform seems to have a bright future in the fast expanding EV market as it helps track the real-time status of vehicles, chargers as well as maintenance services, besides providing electrification of fleets.

The Dearborn, Michigan-based said the acquisition deal would likely close before the end of this month. However, the auto giant didn’t disclose the financial details and terms of the deal. While the deal is yet to be finalized, Ford can immediately start offering depot charging solutions for customers who are switching their fossil fuel-powered four-wheelers to battery-powered EVs.

It is worth-mentioning here that the transition to electric solutions is not easy. It takes much longer to charge an EV than to refuel a conventional vehicle at a gas station. It is for this very reason that Ford has acquired Electriphi as it has the potential to remove these snags.